Brazil exported 58,000 mt of rebar in January, 69 percent more than in December, at an average FOB price reduced by 4.2 percent to $527/mt.
The increased volume reflects chiefly exports of 15,800 mt at $495/mt FOB to the US, against no exports in December. Other destinations were Latin America (37,500 mt) and the Caribbean (4,700 mt).
ArcelorMittal was the top exporter with 38,700 mt at $534/mt, followed by Gerdau with 17,600 mt at $508/mt and the Votorantim Group with 1,700 mt at $572/mt, all FOB conditions, with price deals probably closed in November.
According to a local exporter, rebar prices remain negotiated for export from Brazil at $590/mt, FOB conditions, with the CA-50 grade, 10mm thickness product as reference, stable since early November.
However, Brazilian producers remain focused in the local market, were prices are stable at BRL 4,054/mt ($1,224/mt) ex-works, full taxes except IPI, considering sales by distributors.
USD = BRL 3.31 (Feb. 8)